Ethereum’s history and current indecision prove psychology drives its price as strongly as fundamentals. Past ETH rallies and crashes—like the 2017 ICO boom—show that fear, greed, and herd behavior can drive price action as much as, if not more than, fundamentals or upgrades. With the Fear & Greed Index at a neutral 49 and social sentiment swinging, ETH’s sideways trading reflects indecision.